Tagged / Finance

BU leading economist Professor received exclusive preview for top new EBRD transition report release and same day launch invite

BU Economics professor received intriguing email – Read the report then watch the launch of our latest Transition Report live!

Special Invite From: European Bank for Reconstruction and Development

Watch the launch live online! Navigating Industrial Policy EBRD Transition Report 2024/2025
www.youtube.com/live/jrTqDu9FFAI broadcast from 16.00 – 1730, Canary Wharf, London (26 November) with over 150 participants attending the prestigious launch event live online link up.

The EBRD transition reports are one of the leading rigorous gold standard sources that are well read reporting tools for financial economists, investment market, media, economic departments, universities, researchers and policy makers worldwide.

The launch discussion was moderated by Richard Porter, EBRD Managing Director of Communications, featured:
Joseph Stiglitz, Nobel laureate in economics and Professor at Columbia University. USA link up.
Rana Foroohar, global business columnist and associate editor at the Financial Times
Jeromin Zettelmeyer, Director of Bruegel, the European Union’s economic think tank
Beata Javorcik, EBRD Chief Economist

“In a world of rapid geopolitical and economic shifts, the discussion on industrial policy has never been more critical. This report takes an extensive look at industrial policies in the EBRD regions and beyond. Such policies, which are aimed at changing the sectoral composition of production in an economy, have seen a resurgence in recent years, seeking to address increasingly pressing market failures such as environmental degradation.” EBRD 2024

“Their track record is mixed, with their growing popularity being shaped primarily by domestic political economy considerations and rising geopolitical tensions. While industrial policies are typically employed by higher-income economies, they are also being seen more frequently in economies with less administrative and fiscal capacity to implement them.” EBRD 2024

Other attendance highlights included discussions on: implications of the president-elect Trump of USA and his concerning new tarifs to hike imports into USA from rest of world, with implications for costs, trade wars and economic growth, likely to impact economic growth especially for large exporters to USA such as Canada, China, parts of Europe like UK; that sustainability should include the word environment; furthermore that since GFC 2008/9 majority of special economic zones had seen flattening of exports, FDI and productivity (especially related to manufacturing sector), whereas some areas in south east Europe/Asia borders had seen an upturn and what factors determine achieving this?

Professor Dr Jens Hölscher has published in over 140 academic publications and is a leading economist and spokesperson for Bournemouth University for multi-media, media interviews and broadcasts on Economic and Finance matter e.g. Bank of England comment

AFE seminar 31st October – Streamlining finance for SMEs: the solution of automated pre-filled VAT returns

Join us for the Accounting, Finance and Economics (AFE) seminar, taking place on Thursday 31st October at 2pm.

The AFE seminar for this semester will be delivered by BU’s Dr Siamand Hesami on the topic of Streamlining finance for SMEs: the solution of automated prefilled VAT returns. 

Digital transformation in tax administrations has gained global momentum as governments seek to enhance efficiency and service delivery. The seminar will examine the financial and economic impacts of a key digital innovation: prefilling value-added tax (VAT) returns.

Using Chile as a case study, the analysis evaluates the net benefits and costs from both government and taxpayer perspectives. The results demonstrate that prefilling VAT returns can significantly reduce taxpayer compliance costs, presenting a strong case for its adoption.

For Chile, this initiative’s economic net present value is estimated at US$5.66 billion, with US$1.729 billion in benefits to the private sector and US$3.391 billion in positive budgetary impact for the government. Sensitivity analyses confirm the robustness of these findings, except in scenarios where changes in taxpayer compliance significantly affect government revenues.

This research highlights prefilling VAT returns as an effective strategy to reduce compliance costs, close the tax gap, and minimise the risk of audits and tax evasion, offering valuable insights for broader applications in tax administration.

The seminar takes place in F108 (Fusion Building) from 2pm.

Finance – London under threat

One of the City of London’s main lobby groups, TheCityUK, has warned that London’s position as a leading global financial centre is under threat without reforms to tax and labour rules. The group has published a new international strategy that seeks to return the UK to being the world’s leading international financial centre within five years.

The strategy underlines the need to strengthen market share in existing areas of advantage, such as FinTech. It also calls for the UK to build its capabilities in future areas of global growth where the UK has a competitive advantage, such as data, global ESG markets and risk management.

It says that delivering the strategy will create more high-skilled, high-value UK jobs, and attract more foreign direct investment into businesses in all sectors across the UK. It will put the UK at the forefront of innovation and position the UK as a leader in financing the green economy.

Recommendations

  • Developing new global markets around key areas of future global demand, including becoming a global hub for data and technology by championing common ground rules for digital trade and seek targeted data transfer agreements.
  • Positioning the UK at the heart of global ESG markets, partnering with other countries to create global ESG disclosure standards and more interoperability of ESG taxonomies.
  • Strengthening the UK’s role as a gateway through which global investors can channel funds to businesses across the UK and growth markets around the world.
  • Helping the UK to become the world leader in risk management and in developing alternative risk transfer instruments.
  • Attracting the world’s talent by making visas cheaper and quicker to process.
  • Strengthening capital markets by adopting the recommendations of Lord Hill’s review.
  • Boosting foreign direct investment by amending the tax regime for the financial services sector.
  • Adopting a more agile and dynamic regulatory approach.
  • Supporting UK law’s effectiveness and competitiveness and positioning the UK as a global centre for commercial legal services.
  • Helping the UK remain at the forefront of financial technology and innovation.
  • Liberalising trade with developed markets and emerging markets, with a focus on agreements that support services.
  • Securing international recognition for UK qualifications and improving labour mobility, strong market access and investment protection provisions.

Miles Celic, CEO of TheCityUK, said: “The UK’s financial and related professional services industry is a strategic national asset which provides millions of high-value jobs right across the country, attracts inward investment, contributes significant tax revenue and generates large export surpluses. Being host to the world’s leading financial centre provides large and widespread economic benefit to the UK – which is why there is no shortage of competitors seeking to grow their own financial centres.

“One of the greatest risks for any successful financial centre is complacency. Europe is littered with cities that were once the leading international centre of their day. The last decade has been one of growth for our industry, yet global competitors have grown faster. However, with the right strategy in place and a clear focus on delivery, the UK can pull away once again from its competitors. It is an ambition that needs industry, government, and regulators to work together. It will take sustained focus, cooperation and determination.”

The full strategy is available here.

This summary was prepared for BU by Dods.

Singleimage Workshop – 2 day Finance in Horizon 2020 – 9 & 10 August 2016

2 DAY – FINANCE IN HORIZON 2020 WORKSHOP

9 & 10 August 2016 – Cambridge, UK

Horizon 2020 – the EU’s research and innovation funding programme – has been running for 2 years and projects are now beginning to submit their first financial reports. This finance workshop is an extended version of our one-day finance workshop, and will provide a greater level of detail of the funding rules for the new programme, from budgets to eligible costs and on to cash flow.

The workshop is aimed at finance and administration staff involved in EU research projects, with or without a background in earlier EU programmes. It will consist of lectures and practical exercises, to be carried out in small groups with plenary feedback sessions.

The workshop is designed to be interactive, and questions can be asked at any time. To facilitate this, attendance is limited to 24 participants.

For further information please visit the website at: www.singleimage.co.uk or contact Liz Dixon.  Please also note that the nearest large airport to the workshop venue is London, Stansted.

BRAD Upcoming Opportunities – 16th November 2015

BRAD

 

 

 

For more information about the above workshops and to book – CLICK HERE

Research Application Process- 16th November 2015, 9:30- 10:30.
This session will provide a presentation on the process of costing your research at BU and the research application process. Additionally, Q & A session and the opportunity for a one on one discussion with the facilitators.

Justifying your funding request workshop – 16th November 2015, 10:45-13:00 (including Lunch)
Many funders require you to justify the funding you are requesting in a research bid. But how can you best approach this? This session will outline how to structure a justification for funding for the major funders (research councils, other government funders, main charities) and provide some examples of good and bad practice.

Financial Management Workshop – 16th November 2015, 12:00 -14:30 (including Lunch)Finance for smes
This workshop will cover several topics ranging from; financial management, income and funding budgeting, financial resourcing and strategic financial planning.

 

For more information about the above workshops and to book – CLICK HERE

 

 

 

Financial technologies funding

 

Attend the Fintech Innovation Contest Assembly – 25 Feb 2015

This facilitated knowledge sharing and networking event, organised by IC tomorrow, a digital programme for Innovate UK, and the Knowledge Transfer Network brings together leading industry experts to explore the challenges and opportunities around innovation in financial technologies.  There will also be the chance to find out about the upcoming launch of IC tomorrow’s funded ‘Financial Technologies Innovation Contest.

If you have technology or expertise relevant to the financial services industry, or if you are interested to find out about how to navigate this expanding market, then this free evening event is for you. This session provides the opportunity to meet with entrepreneurs, brands, academics, technologists, designers, and thought leaders across a range of financial services sectors.

Register at: https://www.eventbrite.com/e/fintech-assembly-registration-15426001586

 £175K Financial Technologies Innovation Contest

The IC tomorrow Financial Technologies innovation contest will offer a total of £175k to businesses to encourage innovation within Financial Technologies. Through a range of challenges, including themes of Education, Cyber Security, Transactions, Personal Finance Management, Compliance and Regulation, IC tomorrow are looking for innovative proposals from companies with digital solutions relevant to these themes within the financial sector.

The briefing event will provide an opportunity to get insight about the challenges from our challenge partners and all you need to know about the application process for the Financial Technologies Innovation Contest.

London: 04 March 2015 – https://www.etouches.com/118520

Online Webinar: 04 March 2015 – https://www.eventbrite.co.uk/e/online-webinar-financial-technologies-innovation-contest-briefing-registration-15794522843

Cardiff: 05 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-cardiff-registration-15749448023

Edinburgh: 10 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-edinburgh-registration-15749741902

Belfast: 11 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-belfast-registration-15749951529

Festival events – what can we tempt you with today?

Here are a handful of Festival Events you can come along to next week – to find the full list of events head to the website, or look out for programmes around campus. See something that might interest a friend or family member? Spread the word!

As usual, just click on the links to be taken to the website to find out more and book your place

Star Wars planets: Lessons in planetary geology

Saturday 14 June

11am – 12pm, Executive Business Centre (EB306)

Consider yourself a Star Wars fan?  Come along to this fascinating event that teaches you planetary geology for the world of Star Wars:

What would it be like to live on Tatooine with two suns? Or on the ice world of Hoth, or molten Mustafar? This event will focus on a selection of ‘Star Wars’ planets. You’ll explore their geology and learn about our own planet along the way.

Run by Matthew Bennett

Have we made banking good?

Thursday 12 June

12pm – 2pm, Executive Business Centre (EB708)

Since the global financial crisis and ensuing credit crunch, there has been substantial EU and UK sector re-regulation. This panel discussion looks at whether the result is a safer banking system, focused on serving the public good.

Run by Andy Mullineux

Bug grub!

Monday 9 June

11am – 12pm, Poole House (PG73)

A good way to spend an early lunch hour perhaps?  Come along to this event and challenge your dietary perceptions

Supply of conventional protein such as meat and fish is under strain as the world supports a growing population. In order to feed the world we must be open to alternative forms of food – including bugs! Challenge your cultural palate and gastronomic sensibilities by consuming unconventional foods, which are likely to form a large proportion of the food chain in the future.

Run by Andy Boer

What does a forensic scientist really do?

Tuesday 10 June

10am – 4pm, Kimmeridge House (KG03)

One to send on to any teenagers in the family:

This event features a range of illustrated talks and practical exercises for years 10, 11, 12 and 13 students interested in forensic science. It will introduce students to a range of investigative forensic skills using observation, physical and chemical tests.

Run by David Osselton

‘Technophiles’, ‘technophobes’ and ‘technodopers’: Sport & its technology.

Tuesday 10 June

4pm – 5pm, Poole House, (Stevenson Lecture Theatre)

If you missed Bryce’s fantastic talk last year on Prosthetics technology then make sure you don’t miss out again this time!

Be it a ball thrown or a wheelchair raced, this talk highlights the role that technology plays in sport. You’ll learn its colourful history and join the debate on the many controversies that have occurred in sport. We’ll discuss how maximising the performance of technology can be the fine difference between success or failure for an athlete.

Run by Bryce Dyer

 

 

 

 

Global accounting rules – an unfeasible aim?

Stella Fearnley, Professor of Accounting at BU, and Shyam Sunder, James L. Frank Professor of Accounting, Economics, and Finance at Yale School of Management, recently published their views on global accounting rules in the Financial Times financial markets online edition. The article outlines the authors’ concerns that the application of uniform financial processes or rules in diverse societies, such as the introduction of the euro and the adoption of International Financial Reporting Standards (IFRS), does not yield uniform outcomes. They urge the Securities and Exchange Commission to abandon any plans to proceed with IFRS in the US, and encourage other countries that already employ IFRS to insist on a much less complex system.

Ultimately, the authors suggest the G20 drop its support for global accounting standards and recommend a system of accounting based on professional judgments and sound, prudent principles. At the end of the day, Anglo-American based accounting standards are not necessarily appropriate for the whole world.

To access a copy of the full article, you can sign up for free to the FT website and download a copy here.